A new report commissioned by the Irish government estimates that a no-deal exit for UK would see economy worse off by up to 7% of GDP by 2030.
The minister for business, Heather Humphreys, said it was clear that Ireland would be the most “Brexit-impacted” country in the EU, but that the findings would help the state prepare policy adjustments to mitigate the exposure.
The study is the second major report commissioned by the Irish government on the potential effects of Brexit since 2015 and analysed 24 sectors of the economy.
It found that five sectors – agri-food, pharma, electrical machinery, wholesale and retail, and air transport – accounted for approximately 90% of the total economic impact.
“I think it is fair to say that the report from Copenhagen Economics makes for stark reading,” Humphreys said.
The report found that Brexit will hit the Irish economy no matter what type of deal is signed between London and Brussels. [...]
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